Donald Trump’s Casino is Bankrupt
February 17th, 2009
Donald Trump‘s three casino filed for chapter 11 or bankruptcy on Tuesday. The casinos had until today to reach an agreement with bond holders to restructure $1.25 billion in debt. The casinos missed their $53 million interest payment on their debt.
Trump was frustrated that bond holders and their allies on the board rebuffed his offer to buy the company and take it private. He resigned from the board last Friday.
